Market Size – The minimally invasive glaucoma surgery (MIGS) devices market size has grown exponentially in recent years. It will grow from $0.55 billion in 2023 to $0.70 billion in 2024 at a compound annual growth rate (CAGR) of 27.8%. The growth in the historic period can be attributed to increased awareness for the prevention of blindness, increased investments in healthcare infrastructure, increased patient awareness surrounding advanced corrective vision treatments, rise in awareness surrounding advanced corrective vision treatments, increased government initiatives.
The minimally invasive glaucoma surgery (MIGS) devices market size is expected to see exponential growth in the next few years. It will grow to $1.89 billion in 2028 at a compound annual growth rate (CAGR) of 28.2%. The growth in the forecast period can be attributed to increasing prevalence of eye disorders like glaucoma, rise in geriatric population, growing healthcare infrastructure, growing need for safer and more efficient treatment. Major trends in the forecast period include adoption of MIGS devices, advancements in technology, development of innovative minimally invasive glaucoma surgery devices, development of advanced implantable devices, advances in ophthalmic technology.
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Scope Of Minimally Invasive Glaucoma Surgery (MIGS) Devices MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Overview
Market Drivers -The increasing prevalence of eye disorders is expected to propel the growth of minimally invasive glaucoma surgery (MIGS) devices going forward. Eye disorders encompass a wide range of conditions that affect the eyes and vision. The prevalence of eye disorders is increasing due to lifestyle changes, environmental influences, and aging populations. Minimally invasive glaucoma surgery (MIGS) devices are innovative tools utilized in managing various eye diseases, primarily focusing on reducing intraocular pressure (IOP) to prevent or control glaucoma progression. For instance, in 2024, according to the National Eye Institute, a US-based government agency, around 2.2 million Americans will be blind or partially blind by 2030. Therefore, the increasing prevalence of eye disorders drives the minimally invasive glaucoma surgery (MIGS) devices market.
Market Trends – Major companies operating in the minimally invasive glaucoma surgery (MIGS) devices market are focused on developing innovative products, such as stent injectable systems, to address unmet needs in glaucoma management and improve patient outcomes. A stent injectable system is a minimally invasive glaucoma surgery (MIGS) device that delivers and implants a small stent into the body through an injection-like procedure, often using a specialized delivery mechanism that is commonly used in minimally invasive surgeries to treat conditions such as blocked or narrowed blood vessels. For instance, in August 2022, Glaukos Corporation, a US-based ophthalmic medical technology company, received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the iStent Infinite Trabecular Micro-Bypass System. The iStent Infinite is a novel three-stent injectable system designed to provide foundational, 24/7 intraocular pressure (IOP) control for patients with primary open-angle glaucoma (POAG) whose IOP is uncontrolled by prior medication and surgical therapy.
The minimally invasive glaucoma surgery (MIGS) devices market covered in this report is segmented –
1) By Product: Valves, Glaucoma Drainage Implant, Glaucoma Tube Shunts, Stents, Other Products
2) By Surgery: Glaucoma In Conjunction With Cataract, Stand Alone Glaucoma
3) By Target: Trabecular Meshwork, Suprachoroidal Space, Other Targets
4) By Distribution Channel: Direct Tender, Retail Sales
5) By End User: Ophthalmology Clinics, Ambulatory Surgery Centers (ASCS), Other End Users
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Regional Insights – North America was the largest region in the minimally invasive glaucoma surgery (MIGS) devices market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the minimally invasive glaucoma surgery (MIGS) devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies – Major companies operating in the minimally invasive glaucoma surgery (MIGS) devices market are AbbVie Inc., Novartis AG, Alcon Inc., Bausch Health Companies Inc., Bausch & Lomb Incorporated Inc., Carl Zeiss Meditec AG, Santen Pharmaceutical Co. Ltd., Johnson & Johnson Vision Care Inc., Lumenis Ltd., Staar Surgical Company, Glaukos Corporation, Sight Sciences Inc., Ocular Therapeutix Inc., Iridex Corporation, Ellex Medical Lasers Ltd., New World Medical Inc, MicroSurgical Technology Inc., Nova Eye Medical Limited, Asico LLC, Ziemer Ophthalmic Systems AG, Transcend Medical, iSTAR Medical SA, Ivantis Group Inc., Allergan, InnFocus Inc.
Table of Contents 1. Executive Summary2. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Report Structure3. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Trends And Strategies4. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market – Macro Economic Scenario5. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Size And Growth…..27. Minimally Invasive Glaucoma Surgery (MIGS) Devices Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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